Money Maze Podcast 187: Investing & Philanthropy - With Sir Chris Hohn, Founder, TCI Fund Management & CIFF
Nov 13, 2025
Sir Chris Hohn, founder of TCI Fund Management and the Children's Investment Fund Foundation, is renowned for his strategic insights in investing and philanthropy. He shares his philosophy of prioritizing risk over return and emphasizes the importance of long-term patience in investment strategies. Discussing his shift to philanthropy, he highlights formative experiences that drive his commitment to global development. Sir Chris also warns against AI's limitations and stresses the need for heartfelt purpose in both investing and giving.
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Episode notes
Risk First, Return Second
- Investing should prioritise understanding and managing risk before chasing returns.
- Focus on few things that matter: competition, disruption, and durable barriers to entry.
Buy Businesses With Durable Moats
- Look for companies with multiple durable barriers to entry and pricing power.
- Hold winners long term because persistent moats compound value over decades.
Rising Disruption Narrows Moats
- Disruption and AI are increasing pressure on apparent moats.
- Predictability falls when competition and technological change accelerate.
